Aurora Capital Associates & Bridges Development Group Acquire New York Retail Property For $46M
New York, United States
$46,000,000
$446,601/SF
Building Size
103 SF
Asset Type
Retail
Closing
Dec 30, 2022
AI
A retail property in New York has been sold in a leasehold transaction on December 30, 2022. The property, with a size of 103,000 square feet, was acquired by Aurora Capital Associates & Bridges Development Group. The deal was led by Michael Berfield.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $46,000,000
- Square Footage: 103,000
- Price Per Square Foot: $447
The buyers of the property, Aurora Capital Associates & Bridges Development Group, led by Michael Berfield, have successfully acquired this retail asset in New York. The transaction was valued at $46,000,000, with a price per square foot of $447. The property spans an area of 103,000 square feet and is a significant addition to their portfolio.
Players
Earlville Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93